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Apr 13, 2010 11:00am EDT
black eye for toyota, this time for one of its long-term champions. the slams the new lexus suv. we'll discuss what this means for the brand. >>> from consolidation to carry-on lcarry hf - carry-luggage fees. the president and ceo of virgin america will join us. >>> all right, well kmp back to "the call." i'm melissa francis. let's get you caught up on where the markets are trading right now. s&p 500 trading to the down side about 0.03%. the dow also trading on the down side, almost flat on the session, about 0.10% below that 11,000 mark right now and nasdaq on the down side. a little more than 0.10%. european markets getting ready for their close and right now all of them in the down, as well. the cac down by 11 points. >>> lots going on in the airline sector including increased consolidation. of course, charging for carry-on luggage as airlines scramble to find new sources. joining us right now to discuss, we have virgin america president and ceo david cush. first of all, your thoughts on this increased consolidation we're seeing and how that will affect you and your business. >>
Apr 5, 2010 4:00pm EDT
that toyota is fined by the federal government of $16.4 billion for not notifying them, and that is the largest fine ever. so we are seeing a dip, but there are recovery in shares of toyota, but nonetheless, that is a significant story, and again, wrapping up the headline, the dow jones industrial average inching so closely to dow 11,000, a place it has not been since september of 2008. however, it with elusive on this day, maria. >> thank you, scott. a big day for energy. oil prices surging past $86 a barrel, and heavy volume as well, and here is sharon epperson at the nymex with that story and this is another one that won't quit, sharon. >> right. since october of 2008 have we seen prices at these levels. when you look at oil prices over the last week and month, you will see how we broke out of the recent range and decidedly so and where are the oil prices headed? well, almost every analyst says little technical resistance to where we are to $90 a barrel. you add to that the fact of positive economic data on jobs and pending home sales today and service sector and man
Apr 1, 2010 7:00pm EDT
." >> tom: toyota marches back, while ford and general motors share in the gains. here's a rundown of march's car and truck sales. toyota played comeback kid-- sales rose 41% on hefty incentives after the recalls. aggressive incentives also boosted sales at ford motor, up 40%. and at g.m., march sales were up 21%. the numbers are exaggerated by easy comparisons to last year, when the recession was in full swing. but chrysler is still struggling to gain traction-- sales there fell 8% last month. >> susie: auto dealers are still counting on a blockbuster spring selling season. consumers are back in showrooms, and it looks like they're ready to buy again. but as diane eastabrook reports, the economy is still the wild card. >> reporter: they're back. consumers flocked to dealer lots last month, thanks to warmer temperatures, a string of incentives, and optimism about the u.s. economy. tom bavone is seeing a complete change in customer attitude at his ford dealership. >> they talk about their jobs are doing well. they feel more secure in their jobs and they seem happier, you know. it's better th
Apr 6, 2010 4:30am EDT
spokesperson robert gibbs called karzai's comment, quote genuinely troubling. >>> in the wake of toyota's unprecedented global recall over sticky gas pedals the u.s. government has made an unprecedented move of its own, seeking the maximum penalty of punishment for the automaker's failure to act swiftly when lives were at stake. on monday transportation secretary ray lahood proposed toyota pay a record fine of nearly $16.4 million, after it, quote, knowingly hid a dangerous defect. documents show toyota knew about the defect back in september of last year, but waited until late january to issue a recall. toyota still faces private lawsuits, which could cost the automaker untold millions more in damages. >>> and now, here's a look at some other stories making news "early today" in america. in vermont, authorities just released surveillance video of a police officer firing a pepper gun at a man in a holding cell. the 26-year-old man, who was handcuffed at the time, can also be seen laying on the ground as the officer puts a bag over his head. the officer resigned following an internal inv
Apr 19, 2010 4:30am EDT
this morning toyota is expected to sign paperwork for agreeing to the largest government penalty ever against an ought maker relating to its sticking gas pedal recall. according to a department of transportation official, by paying the record $16.4 million fine, the maximum allowed by law, toyota is accepting responsibility for hiding the safety defect. the japanese automaker is expect ed to pay the penalty before to avoid going to court. while toyota is not expected to admit to any specific wrongdoing. paying the fine will not release toyota from civil or criminal actions. >>> and now here's a look at some other stories making news today early today in america. new york police are asking for the public's help in identifying four young women who stole nearly 4,000 dollar in lingerie. two of the women distracted a store clerk while the others stuffed merchandise into their shopping bags. employees describe the suspects as young, possibly high school or college students. >>> some 50 new jersey residents are out of house and home this morning after a massive fire ripped through two apartment bui
Apr 5, 2010 3:00pm EDT
, the united states transportation department plans to fine toyota $16.4 million for alleged safety violation thchlt has to do with when the federal government was notified about a potential problem with acceleration. the law is that they must be notified within five days and toyota said they notified them in a prompt fashion, but clearly this fine has to do with fact that toyota did not notify them quick enough, and they knew about the problems months before they took the steps necessary to notify the united states government. this is the largest fine against a automaker, and 16.4 million, that toyota failed to notify regulators promptly about the pedal defect, and it took them months, and you are supposed to do it within five days. >>> we saw the stock reacting as you were talking, phil, but it is now flat on the session. but certainly, as you were talking, we had a move from positive to negative, and now it is positive again, actually moving higher. >> huge implications here, maria, for the shareholders as far as opening up toyota for greater liability problems in terms of civil cases. thi
Apr 1, 2010 6:00am EDT
a key driver here. toyota was offering big incentives. a toyota auto executive said his company sales rose by 40% in march. hyundai says it u.s. sales rose as much as 18% last month compared to the previous year. auto nation's ceo will join us in the next hour and we'll learn more about what he's learning in terms of car sales. >>> meanwhile, tim geithner says the u.s. economy is still in a tough spot, but slowly on the mend. he saw down with nbc's matt lauer. >> you'll start to see businesses across the country start to add to payroll again. that's going to come -- the economy is growing now. that's the first step. but with growth, more jobs will come. but the unemployment rate is still terribly high, and it's going to stay unacceptably high for a long period of time. it's going to take a long time to bring it down just because of the damage of the recession. >> in a meeting yesterday in pen ben, geithner read with steelmakers. next week, he leaves for a trip to india. >>> we want to get a check on the markets as we begin the second quarter. wow, futures are looking pretty good here
Apr 22, 2010 4:00am EDT
gains we had yesterday. we had toyota in focus yesterday. moody's cutting the, elsewhere in shanghai, the composite, 1.1% lower. we're seeing more measures, fresh measures by the government to cut circulation. that is weighing on the index there. the hang seng down 0.3%. in south korea, the kospi sliding 0.4%. the bombay sensex rising to the up side, up 1.3%. and the australian market down almost 1%. how is all this impacting the ftse cnbc global 3 hunl index? let's check to see how that is faring in light of what's happening in the equity market. we are waiting for it to come up. just give us a little bit of time so far. nicole, it is one of those things on a thursday morning. what can i say? >> i like to call it a friday eve, christine. it makes it sounds a little better. regardless of the charts, let's take a look at what we're seeing in the united states. lower across the board with dow futures down about 8 below fair value right now. excuse me. they are a little bit lower, actually. so are nasdaq futures and s&p 500 futures. we have about 100 of the s&p 500 companies reportsing
Apr 28, 2010 11:00am EDT
coming from phil lebeau. >>> breaking news from toyota, it will recall 50,0002003 model year toyota sequoias to upgrade the software in the vehicle stability control. this is similar to the issue that we saw with the lexus gx 3450. no injuries, no accidents contributed to the issue with the software in the 2003 sequoias, but, again, toyota recalling 50,000, 2003 toyota sequoias for vehicle stability control upgrades. guys, back to you. >> this is in addition to what we saw after that consumer reports came out with the lexus and then recommending, of course, that the lexus be recalled. >> right, correct. we're talking about stability control and whether or not the system, the software, the logic that they call it within the software is functioning at optimum capacity in terms of how it should be working. that is upgraded as part of this recall. again, toyota saying no accidents, no injuries reporting from this problem. >> thanks very much, fill lebeau. >>> let's go back to our greece panel there. they're still there. matt hogan, andy believes there is a play here. i want to get in th
Apr 15, 2010 9:00am EDT
suspensions. toyota suspended sales of a lexus suv. rollover fears. now, the company is testing a bunch of other models for the same problem. i'll tell you what, for toyota, when it rains, it pours. >> you have no idea. you don't even know the anger that my husband and i feel towards what this woman has done. >> russia suspended adoptions by american families. you're looking at the face of heartbreak. this woman got so close to bringing her new son and daughter home. and then that tennessee woman sent her son back to russia back to russia with a note. >>> and the third kind of suspension. travel. an angry, messy and busy volcano between north america and europe will definitely do that. >>> but we begin with the acronym, we all know it, nasa, national aeronautics and space administration. but the meaning far more powerful, exploration, innovation and inspiration. >> i believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth. >> it was a promise. and a challenge. president kennedy set
Apr 6, 2010 9:00am EDT
day now. plus the aggressive incentives toyota is putting out there. are they going down the same road that, well, hey, look, gm would not say that was such a wonderful road, was it? should toyota beware? and here are your morning movers. still hovering shy of 11,000. your biggest mover today is celgene and amazon on the move. we'll be back. >>> 45 minutes into the trading day. the dow up more than 10% since the february lows. boeing, du pont and disney, the biggest gainer on the blue chip index. auto nation, one of the best performers on the s&p. the company boosting earnings guidance for first quarter. and las vegas sans, u.s. steel, also hiting fresh 52-week lows. matt nesto told you yesterday about success in mccaw. we talked about las vegas sands. what else you got going on today, mr. nesto? >> let me talk about some of the upgrades, you mentioned the dow leaders. only eight stocks higher here today. du pont, pfizer and disney get upgraded this morning. du pont goes to neutral. off the underperform list at ba meryl this morning. you can see it is up .6%. pfizer, jpmorgan, is sayin
Apr 6, 2010 5:00am EDT
geithner speaking in new delhi. >>> u.s. regulators want to slap toyota with a civil penalty, amounting to about $16.4 billion, the biggest fine for an automaker in history. toyota failed to notify quickly about its defective pedals. toyota will not directly address the fines, but says it has taken the steps to improve communication issues. >>> south korea will recall 13,000 vehicles sold in the country because of suspected defaults. all the suspected models have floor mats which could hamper the operation of the pedals. nicole. >>> in the united states, 25 people have been killed in a blast in west virginia. four people are still unaccounted for and rescue operations have been halted. the blast happened monday afternoon at the upper branch mine. the cause is unknown, but the mine has a history of violations for not properly ventilating highly combustible gas. massey fell more than 5% in after hours trading. >>> the finance chairman will be watching china's currency practices closely in the next week to decide on what legislation congress should pass on the issue. saturday, treshgry sec
Apr 15, 2010 11:00am EDT
the head of nhtsa. u.s. regulators will perform tests on lexus and other toyota suvs and will take action if the vehicles do not meet regulator standards this coming after toyota announcing overnight out of japan it will test all of its suvs as it tests the lexus gx 460. consumer reports did some tests on and there could be a propensity for this vehicle to tip over because the electronic stability control doesn't kick in in time. they're now testing all their vehicles and now you have nhtsa saying we will test lexus and other toyota suvs if they do not meet safety standards and take action physical they do not meet regulator standards. that's the latest as they continue to look into potential problems with toyota and lexuses suvs. melissa? >> phil, just a question. i think you mentioned they are testing in japan, does that correla correlate, is that consistent with the testing and standards here in the united states? >> the testing is, what's tricky is you may not have the exact same conditions in japan that you had at the test track at consumer reports facility in connecticut and some pe
Apr 29, 2010 5:00pm EDT
enough, the stock traded down to $150.15 and then it bounced. >> toyota traded down, it bottomed the same day that toyota got grilled by congress. >> the day the goldman sachs news broke i turned to you and said would you buy goldman sachs on the testimony, thinking your logic with toyota and you said no you wouldn't pop i made a mistake. i should have. >> why did you think it was different? >> i thought that we haven't seen -- by the time toyota got to congress, a lot of shoes had already dropped. with goldman, i feel like there may be more to come. >> but they're buying back shares. i think that's what people need to remember. goldman sach is minting money. the financial services sector is minting money. and i also think there's a bit of a senate backlash now. i think people have looked at the public flogging and found it somewhat distasteful. this could be a big opportunity in goldman shares. i agree with gary and others on this show. >> do you think anyone out of wall street found that distasteful? i think they loved it. >> i was going hard against gary yesterday, but i was told by pe
Apr 19, 2010 9:00am EDT
news on toyota. just agreeing to pay a record, mark, fine. this is $16.4 million. it's to u.s. safety regulators for the government's claim it delayed a massive accelerator pedal recall in january, and again, to give some perspective, that is a very small amount for a company like toyota. most fines are relative to the reputational issues, but when you think about wall street and the fines, for example, what this may cost goldman sachs, it's always the reputational issue that's much more costly than the actual fine. >> yeah. plus, now they've got that issue with their big suv, withdrawing it from sales because of safety concerns. hasn't been a good year for toyota. >> no, it has not. well, the s.e.c. reportedly investigating other mortgage deals by wall street's biggest firms after accusing goldman sachs of fraud. now we are going to be joined by senator kay bailey hutchison, republican member of the senate banking committee. she was obviously with us last week, and well, a lot of things have happened since then. senator hutchison, good to have you with us. we appreciate it. >> thank
Apr 7, 2010 6:30pm EDT
. they'd also have to expand their disclosure to investors. >> tom: a twist tonight in the toyota recall saga. the associated press has learned that a u.s. toyota executive wrote an email to higher ups at the auto giant five days before a massive recall. it said, quote, "we need to come clean" about accelerator problems. the a.p. obtained the internal email written by irv miller, toyota group's vice president for environment and public affairs. the note went on to say, quote, "the time to hide on this one is over." miller has since retired. >> susie: in the "money file" tonight, why foreign bond funds can be a dicey choice for everyday investors. here's eric schurenberg, editor- in-chief at "cbs moneywatch". >> one of the pillars of a well-rounded investment portfolio is international stocks. you own some, don't you? owning foreign stock funds lets you ride economies that may be healthier than ours, and lets you earn some of your investment profits in a currency other than the dollar. so when the dollar falls, your foreign stock funds rise, because they pay off in a currency that's sudde
Apr 9, 2010 6:30pm EDT
focus. >> susie: toyota's legal battles will be waged in a federal courtroom in los angeles. a judicial panel decided that today. it affects more than 200 lawsuits against the automaker filed around the country. it also means one judge will make the pre-trial decisions for all the cases. some suits are by toyota owners claiming their vehicles have lost value. others are asking for money for injuries from sudden acceleration problems. toyota has recalled more than eight million vehicles worldwide for issues with their gas pedals and brakes. >> tom: here's what we're watching for next week. our friday market monitor guest is dr. hans black, chairman of inter-invest. on monday, alcoa kicks off the first quarter's earnings season. later in the week, we'll see results from bank of america, general electric, google and j.p. morgan. monday, u-s/china relations. we'll look at the currency and trade issues, as the leaders of both countries meet. >> susie: netflix customers who want to see popular movies like "avatar" will have to wait even longer. today, the online movie rental company and twent
Apr 13, 2010 6:30pm EDT
toyota said. 20 10 s.u.v., that's the lexus 460 model. the move comes after consumer reports urged readering to steer clear of that model. they put a rare "don't buy" recommendation on that lexus because of a rollover risk. 4800 of those s.u.v.s have already been sold so far this year. the sales suspension comes as le lexus parent toyota deals with massive recalls and problems. >> tom: those problems at toyota have helped boost sales at rival ford. the automaker said today u.s. sales jumped 37% in the first three months of this year. that's ford's largest quarterly market share gain since 1977. ford's entire lineup saw higher sales, most notably in s.u.v.s and pickups, enough to make the company optimistic about consumer confidence. we'll find out more about ford's quarterly performance when it reports earnings at the end of the month. >> susie: it's crunch time, with just two days to go until your federal taxes are due back at the i.r.s. and kevin mccormally is here to help. he's editorial director at kiplinger's personal finance. in tonight's "tax tips", kevin takes on the 1099 m
Apr 15, 2010 6:30pm EDT
to see the volcano firsthand. >> tom: more trouble for toyota. now, the government is looking at the stability of its lexus gx-460. that's the s.u.v. model that "consumer reports" says is a potential rollover risk, leading toyota to stop selling it. the national highway traffic safety administration says it is already working on its tests. this is the latest problem in an ongoing saga for toyota. the japanese auto maker has until monday to respond to a proposed $16 million government fine for hiding defects that caused its vehicles to suddenly accelerate. >> susie: today's the day, the deadline for taxes. federal returns have to be postmarked by midnight. but kevin mccormally says don't stress out because the calendar says april 15. he's editorial director at kiplinger's personal finance, and he has a few more tax tips before the big deadline. tonight-- why you may not have to worry at all about today's deadline. >> with just a few hours to go before the tax deadline, i want to remind anyone struggling to finish a 1040, or that wonderful little form 4868 that pushes the deadli
Apr 16, 2010 6:30pm EDT
>> susie: japanese automaker toyota said today it tested a luxury s.u.v. deemed a safety risk, and got the same results. that test came this week, after "consumer reports" magazine said the lexus g.x. 460 can roll over. toyota is looking at potential fixes for the problem. meanwhile, the automaker could be heading back to capitol hill for another round of hearings. the house energy and commerce committee has set may 6 to review the automaker's electric throttles. those throttles are at the heart of questions about sudden acceleration in toyota and lexis vehicles. >> the civil fraud charges against goldman sachs come as big bank of nov banks have sn big. rochdale securities. joining us from the gulf coast. dick, nice to see you. welcome back to "nightly business report". >> thank you. >> tom: how does this goldman sachs case color your view of the company, as well as the stock. >> it should be stated clearly if in fact goldman sachs did something improperly, they should be fined for it, and they should be punished. if we make the assumptions for analytical purposes they did do something
Apr 8, 2010 6:00am EDT
, breaking news on the consumer from steve liesman and smoking gun at toyota. e-mails sent in january warning the company it should come clean about its recall problem. all that still ahead as "squawk box" continues. >> announcer: as we head to the break, here's a look at the widely held stocks. "squawk box" on cnbc returns after this. we are first in business worldwide. >>> here's a disturbing story. a senior toyota executive tried to warn the automaker that it needed to "come clean" on a safety defect affecting accelerator pedals according to an e-mail sent back in january. phil lebeau joins us now with more. phil? >> it was sent from erv miller who retired from toyota shortly after the recall of defective pedals was sent out. it's one of 70,000 documents being looked at in washington and the damaging part of this e-mail from erv miller says that we have a tendency for mechanical failure in accelerator pedals of a certain manufacturer on certain models. we are not protecting our customers by keeping this quiet. the time to hide on this is over. we need to come clean. i believe that jim lent
Apr 6, 2010 4:00pm EDT
examining more than 70,000 documents to discover whether toyota has any other safety violations. on monday toyota was fined a record $16.4 million to waiting four months before disclosing a pedal flaw. >> i think toyota was safety deaf, i think they have a very bad business model. i told that directly to mr. t toyoda when he came to my office in washington, d.c. they know they have some serious, serious issuings, not the least of which is violating safety laws that they need to account for. >> and a federal districtius that the red wax seal coating is a well-known and valid trade market. it prohibits diageo from using a similar mark on its tequila bottles. >>> rescuers are trying to find four men. massey stock today very heavily traded. hampton pearson brings us the latest on the rescues. >> particularly the high number of violations at the mine where the latest tragedy has occurred. last year federal inspectors found more than 450 violations and fined them in excess of $382,000, related to problems regarding the ventilation and equipment plan. this afternoon, the ceo offered a partial exp
Apr 26, 2010 3:00pm EDT
gadgets. on the ford side of things, you have ford benefiting from the mess at toyota. they have a phenomenal run, and alan mulally is doing everything right. i own for it the clients, but i don't know if i would add to the positions now, but if you have maalox and willing to take a risk, i am owning toyota at this point both for myself and clients. it is a little bit more of a gamble, but you are banking and banking that most of the bad news is baked into the stock price. >> well, it is a great point. of course, the first quarter has been better than expected on a lot of fronts, but we are waiting on evidence of end market demand, revenue growth, and are you seeing that? >> in places we are seeing the revenue, but it is one of the things coming stock by stock and we know that the auto market is stronger than you would expect, and the same with technology if you see what twe get out of apple and not so much nokia. we know that palm is not doing so well, but radio shack is pulling out of that. you have to pick and choose your places. i am not buying the market as a whole, but the
Apr 29, 2010 11:00am EDT
national. go like a pro. >>> welcome back to quaelt the call." breaking news from toyota. a week and a half after recalling around 5,000 lexus gx 460 and two weeks after suspending sales of the luxury suv, toyota has a fix in place to fix the stability control issues with that vehicle. the company is now going to resume sales of the lexus gx 460 and will start contacting owners of those 5,000 who have already bought the suv so they can come in and get the software upgrade. again, toyota, resuming sales of the gx 460 two weeks after suspending sales. trish, back to you. >> phil, thank you so much. >>> we have seen upside in europe and certainly huge volume in spain's exchange-traded funds on the back of the country's downgrade, as well as heavy volume in the italy etf right here. what about portugal and ireland? what are we seeing there? bob pisani is joining us live from the new york stock exchange with a look at all the etf trades. what do you see? >> weekly look at the etf business. you can buy and sell the whole country stock markets using exchange traded funds. take a look ewp is the sy
Apr 1, 2010 12:00pm EDT
that is not such good news is we're in the middle of a war right now. toyota set off the war a month ago because they had to get their numbers back. now everybody had to pile in and the big question here is whether they're pulling ahead sales that won't be there too month from now or getting loyal buyers to come in and spend some money. >> what do you make of that alex merkel? they may be pulling buyers forward and selling the deal, not the car. >> there's probably some buyers that are being pulled forward but at this time last year incentives like these would have fallen on deaf ears. what we're seeing right now and what i believe is we're seeing a turn in the auto industry that is sustainable. we'll see job numbers and we're going to see, we have stabilization in the labor markets and the job numbers are going to look really good tomorrow and as we see stabilization in the labor markets, that is the inflection point. that is where the auto sales start to make their turn. ford has not jumped into the incentive band wagon and still had a 34% increase in sales. so, very good numbers. >> in north
Apr 8, 2010 9:00am EDT
this time. >>> moving on, it could be the smoking gun attorneys suing toyota needed. an internal e-mail obtained by cnbc showing a senior toyota executive warned the automaker to "come clean" about faulty accelerator pedals. phil lebeau covers the auto beat and just about everything else for cnbc, is live in chicago. phil? >> reporter: and david, this is the so-called smoking gun memo, although that might be overstating it a bit. it was a memo send by irv miller, who retired from toyota, a lead executive of toyota, from january 16th. here's the note in the memo getting the attention, revolving around whether or not they should alert the authorities about pedal defects. it says, "the time to hide on this is over. we need to come clean, and i believe that jim lentz and yoshi inaba were on the way to d.c. for meetings with nhtsa to discuss optioned." the so-called "come clean" e-mail sent five days before nhtsa was alerted of a recall from toyota of 2.3 million vehicles with faulty gas pedals. remember, last week, toyota was fined $16.4 million by the d.o.t. because it was slow in ena
Apr 14, 2010 9:00am EDT
. toyota is taking a drastic step in the wake of a safety warning, pulling a luxury lexus off the lot. the move comes one day after that warning was issued. cnn's kyung lah has more. >> reporter: more bad news for toyota. the vehicle involved is the brand-new 2010 lexus g sshggx-4. toyota will temporarily suspend sales in the united states. in the united states, this is the magazine that is widely considered the consumer magazine of record. toyota did stop short of a recall, but "consumer reports" issued the very rare don't buy safety risk label on the $52,000 suv, warning consumers that it does have the possibility of rolling over. here's what "consumer reports" told cnn's "american morning." >>> the vehicle loads the front because of momentum dropping and the rear end will naturally slide. in this case, the electronic stability control didn't intervene quickly enough, whereas on the toyota 4runner, a similar platform, it did. >> reporter: in a statement announcing the suspension -- >> reporter: toyota did say that the suspension of sales will be limited to the united states, about 5
Apr 19, 2010 6:30pm EDT
for toyota, this time it's 2010 lexus gx460 s.u.v. the problem is a potential roll- over risk. sales were suspended last week after consumer reports issued a rare don't buy rating. separately, toyota will pay a record $16 million fine for not reporting a safety problem with defective gas pedals. the company says it settled with government to avoid litigation. and still ahead on the program, face value. you might be surprised how many people base the trustworthiness of their financial advisor solely on looks. >> susie: airlines were cleared to resume some flights out of europe today as ash from the icelandic volcano began to clear. but, already, airline losses have soared to past the billion dollar mark. that's more than the impact of 9/11. erika miller takes a look at the impact here in the u.s. on the travel industry. >> reporter: new york city is more than 2,500 miles away from the icelandic volcano eruptions. but even here there are business disruptions. new york city estimates it could lose as much as $250 million in tourism revenues. however, the man behind the data, george fertitta,
Apr 28, 2010 6:30pm EDT
since buffett bought the railroad. another recall for toyota, this time it's sequoia s.u.v.s. 50,000 vehicles bought in early 2003 are being recalled to fix a software glitch that causes a delay when accelerating. the recall comes nearly a year and a half after safety regulators began looking at the problem. toyota says there have been no reported injuries or accidents due to the issue. dealers have been notified and about half of the recalled vehicles have already been repaired. >> tom: a first of its kind energy project got the green light today from uncle sam. a 130 turbine wind farm in the waters off cape cod, massachusetts is scheduled to start construction later this year. the $1 billion facility is expected to produce enough electricity to power 400,000 homes. german conglomerate siemens will supply the turbines. opponents say the project will endanger marine life and commerce in the area, they plan a lawsuit to stop it. >> susie: for the past few years, the home furnishings sector has gotten hammered, especially high end chains like ethan allen. but the company is showing
Apr 13, 2010 12:00pm EDT
not to buy that suv until the vehicle is fixed. toyota is concerned with the report and its engineers conduct similar tests. it promises to duplicate the consumer reports test to determine if appropriate steps need to be taken. couldn't come at a worst time for toyota. >> not from the company making the announcement itself but kind of the worst thing that could happen to them. surprised they didn't preempt the announcement come out with something ahead of time. >> one of the issues is the chassis, in fac, most of the automobile this year changed and that may be one of the problems for toyota. the lexus this one is quite different than previous lexus models and, as a result of that, that could be a big problem. supposedly need fixed. >> we will run our own tests and want to see this. >> they think it is an easy fix. >>> you see all those commercials they run 24/7 on cnbc. you remember the hot ipo a year ago. >> so has the success of that ipo translate under to long-term profts for rosetta stone? we'll talk to the ceo on the other side of the break. >>> how do you say business in swahili. roset
Apr 13, 2010 6:00am EDT
this morning, consumer reports are out with a shocking new warning on toyota lexus. you'll want to hear this. so still around. kevin ferry has the story from the futures pits. stay right here. >>> welcome back, wieveryone. it's being reported that toyota's lexus gx 460 suv is a safety risk. consumer reports says they're urging consumers not to buy this suv until rollover risks have been resolved. you to toy is responding that it's concerned with the reports and that its engineers condition duct similar tests. it promises to try and duply indicate the tests to see if steps should be taken. >> you didn't say anything about accelerators sticking, did you? >> no. this is a completely different problem. >> do they typically buy a car? >> no. it's a rare thing. there have been other suvs that have had problems. >> rollover risks? >> yes. >> that's what people worry about. >> they're so top heavy. anyway, we'll have more from phil coming up at the top of the hour. right now, let's talk about the trading day ahead. kevin ferry is standing by at the cme group. kevin, we've pushed above 11,000, just b
Apr 14, 2010 11:00am EDT
, everyone. check out toyota. halting sales of lexus suv a day after consumer reports said it had handling problems. toyota trading up almost 1%. melissa. >>> crude on the back of surprising inventory data. take a look where oil inventories are trading right now. they're up almost two bucks on the day, better than 2%. 85.89 the last trade there. sharon epperson joins us live from the floor of the new york mercantile exchange. sharon? >> seen a spike in prices since that number came out a little over an hour ago and the bulls in good steady. the reversal that we saw on record volume here to above $84 for a the barrel and remaining above that level before the number came out and then we get the surprise decline in crude supplies and everyone was expecting a bill and we have seen bills for ten straight weeks and that is something that folks are paying attentions as we make our way back to the $87 level. sure omecis saying $70 to $80 is the range because oil fundamentals look like it but we are looking at prices that seem to be in a new range right now and veteran trader here on the floor with
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Apr 8, 2010 4:00pm EDT
relegated to a role of helping the government discern engineer problems in toyota cars that essentially nasa, that got us to the moon, is now mr. good wrench. >> well, you look for the best talent and if you have a car problem and you want to find what the best talent is to look at a problem, looks like you may go to nasa. >> neil: you don't believe that, buzz? you went to the moon, discovered and done things that are historic. and now, you're nasa people looking under the hoods? its ridiculous. >> all right. i'm not here to talk about toyota. >> neil: next week the president makes a big speech, talk to get nasa core stars, veterans, you're going to be there and other big heroes will be there. but he's talking about downsizing nasa, right? >> i don't know as that's the case. the budget is increased now. >> neil: the post shuttle effort is nixed, right? >> well, we're going to save money because we spent about $9 billion and 5 to 6 years going down a pathway that was unsustainable jot president more or less said that. >> yes, that's right. >> neil: but i thought he nixed, buzz, the revisit th
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